12:22 PM EST - WELL Health Technologies Corp. : Announced its wholly owned subsidiary, CRH Medical Corporation, has completed an accretive transaction whereby the company has acquired an 85% stake in New England Anesthesia Associates LLC (" NEAA ") effective May 1, 2021. NEAA provides anesthesia services to an ambulatory surgical center in Guilford, Connecticut along with other staffing services that serve the surrounding region. It represents CRH's 34th acquisition to date. "We are very excited to complete the first acquisition by CRH after joining WELL just a couple of weeks ago," said Hamed Shahbazi, Chairman and CEO of WELL Health. "This acquisition is yet another validation of CRH's disciplined acquisition and partnership program, and it demonstrates WELL's commitment to continuing CRH's very successful and accretive capital allocation program, which aligns perfectly with WELL's own growth strategy." The acquisition of NEAA is expected to be immediately accretive to CRH's cashflows. NEAA's current estimated annualized revenue run-rate is approximately US$3.6 million with operating EBITDA margins equal to approximately 40% which is generally in line with similar acquisitions made by CRH. CRH paid approximately less than 5X trailing operating EBITDA to complete the transaction. WELL Health Technologies Corp.
shares T.WELL are trading up 23 cents at $7.29.
